Sompo Asset Management Co. Ltd. Sells 1,560 Shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Sompo Asset Management Co. Ltd. reduced its holdings in shares of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) by 9.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,130 shares of the oil and gas exploration company’s stock after selling 1,560 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Petróleo Brasileiro S.A. – Petrobras were worth $204,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PBR. EverSource Wealth Advisors LLC lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 460.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the oil and gas exploration company’s stock valued at $27,000 after buying an additional 1,468 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at approximately $30,000. ORG Partners LLC lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 396.0% during the 3rd quarter. ORG Partners LLC now owns 2,103 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 1,679 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Petróleo Brasileiro S.A. – Petrobras during the 2nd quarter valued at approximately $32,000. Finally, Bogart Wealth LLC lifted its stake in shares of Petróleo Brasileiro S.A. – Petrobras by 571.4% during the 3rd quarter. Bogart Wealth LLC now owns 2,350 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 2,000 shares in the last quarter.

Petróleo Brasileiro S.A. – Petrobras Trading Up 5.3 %

Shares of NYSE:PBR opened at $14.90 on Monday. The company’s fifty day moving average price is $14.25 and its 200-day moving average price is $14.61. Petróleo Brasileiro S.A. – Petrobras has a one year low of $12.90 and a one year high of $17.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.71.

Petróleo Brasileiro S.A. – Petrobras Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, December 27th will be issued a $0.227 dividend. This is a positive change from Petróleo Brasileiro S.A. – Petrobras’s previous Variable dividend of $0.17. The ex-dividend date is Friday, December 27th. This represents a dividend yield of 16.3%. Petróleo Brasileiro S.A. – Petrobras’s dividend payout ratio is presently 30.08%.

Analyst Ratings Changes

PBR has been the topic of several recent analyst reports. HSBC cut shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group increased their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $18.00 to $20.00 in a research note on Monday, August 26th. Hsbc Global Res cut shares of Petróleo Brasileiro S.A. – Petrobras from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, UBS Group lowered their target price on shares of Petróleo Brasileiro S.A. – Petrobras from $19.40 to $18.10 and set a “buy” rating on the stock in a research note on Monday, August 19th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Petróleo Brasileiro S.A. – Petrobras currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.